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Finding Private Lender - REITC 6-8-10

How To Find Private Money
Make Buyers & Tenants Compete

Here's a great tip that I know you're gonna love.

The next time you're selling, leasing or flipping house I want you to set up a group showing.

Meet all the potential buyers at the property at the same time, but the trick is, don't tell them that you're meeting several people at one time.

When they arrive they'll know that they're not the only one interested in the property.

Here's the best method for setting this up.  When you're talking with your first buyer, set up an appointment that...

you think will be a good time to get as many people there as possible.  Usually afternoon or evening or weekends.

Once you've set the time, then all other prospects will get the EXACT same time to meet you there. A nice benefit to this is you won't be wasting your time going to the house to meet a buyer who doesn't show up, because hopefully you have several meeting you there at the exact same time.

Here's what this does for you.  It gives you the upper hand and buyers are trying to outbid one another or trying to coax you away from the crowd so they can get you to spend time with them so so they can try to steal it from everyone else.

The best thing to do is just let them inspect the home and then ask (nudge or force) them to fill out the offer sheet or application right on the spot.  Do not let them take the application, unless they give you a good reason whey they can't fill it out on the spot (ie. have to get back to work, need to fill it out with spouse, parent, etc.)

Many times, I won't collect an application fee upfront, because I want to get as many applications as possible, so I can continue to build my buyer's list. I will accept a deposit or several full or partial deposits and I advise that the winning application and deposit will be retained and all other deposits will be returned.

Stay tuned for my next tip where I share some Powerful Screening tips.

Until then...

Take Action!

Greg Bell, President, Trainer, Speaker and Mentor

PS. Follow me on http://www.twitter.com/thegregbell and if you have a deal you want to pass on to me or want to partner on, then drop me an email or give me a call and we'll see what we can do to make it happen.

Last Updated on Monday, 10 August 2009 02:07
 
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